Easy and Simple Ways to Save Money When Buying Life Insurance

Posted on: January 25, 2017By: Gee-Schussler Blogging Team

Save your wallet – here’s how to lower your life insurance rates.

If you’re in the market for life insurance, there’s plenty to research. Life insurance is a selfless policy that enables your family and loved ones to recover financially after the event of your death. As such an important policy, it’s best not to rush in and buy the first and cheapest one.

If you want to get the best life insurance policy at the best price (and let’s face it, who doesn’t?), simply follow our top money-saving tips!

Lose weight

It may be at the top of your New Year’s resolutions, but losing weight can help when you want to save on life insurance, too. Life insurance companies set ‘underwriting guidelines’ for various health issues such as height and weight, blood pressure, and cholesterol levels. By keeping your BMI, weight, and health in check, you may place in a better health class, therefore lowering life insurance premiums.

Set the right term

The longer the term of the policy, the more likely you are to die and trigger a claim. As a result, the premium will be consequently higher. Make sure the term fits your needs. If your life insurance is linked to your mortgage, a term of 20 or 25 years may be long enough. If you only want the term while your kids are living at home, you may be able to opt for a shorter term for the time being.

Get the right sum insured

The bigger the potential pay-out, the heftier the premium. Ensure that you don’t buy too much cover for what you need. An insurance agent will be able to help you determine what is best for your family’s needs.

Buy a policy when you’re young

The cost of life insurance rises with age as you’re statistically closer to dying the older you get. In turn, you can save money by arranging cover while you’re 20 to 30 years olds, rather than trying to find an affordable policy when you’re aged 40 or 50.

Luckily, the professionals at Gee Schussler Insurance Agency are experts in handling every family’s needs and budget. We ensure that you don’t sacrifice coverage to save a few dimes. Visit us or give us a call in Orland Park, Illinois to find out how we can help.